NOBA Holding AB (publ)’s subsidiary NOBA Bank Group AB (publ) has announced a tender offer for certain of its outstanding NOK and SEK bonds
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NOBA Holding AB (publ)’s indirect subsidiary NOBA Bank Group AB (publ) (“NOBA”) has today announced an offer to the bondholders (including any beneficial owners who hold their bonds via nominees or custodians) (the "Bondholders") of NOBA’s outstanding SEK 300,000,000 senior unsecured floating rate bonds due March 2025 (ISIN NO0010952831) and NOK 700,000,000 senior unsecured floating rate bonds due March 2025 (ISIN NO0010952823) (the “Bonds”), to tender their Bonds for NOBA to purchase against cash payment at the purchase prices set out below, plus any accrued and unpaid interest (the “Tender Offer”).
| Description of the Bonds | ISIN | Outstanding volume | Minimum denomination | Purchase price |
| SEK 300,000,000 FRN due March 2025 | NO0010952831 | SEK 300,000,000 | SEK 2,000,000 | 99.750% |
| NOK 700,000,000 FRN due March 2025 | NO0010952823 | NOK 700,000,000 | NOK 2,000,000 | 99.750% |
The tendered amount of Bonds accepted by NOBA is subject to a total cap of NOK 600,000,000 (the cap may however be increased, decreased or not be applied at NOBA’s sole discretion). The Bonds will be repurchased by NOBA in accordance with the terms and conditions described in a tender information document dated 18 September 2023 (the “Tender Information Document”), which is attached to NOBA’s press release and is also made available by Nordea Bank Abp as the dealer manager (+45 6136 0379, nordealiabilitymanagement@nordea.com).
The Tender Offer was made as part of NOBA’s commitment to actively use liability management as a tool to manage its balance sheet.
The Tender Offer period commenced immediately and expires at 15:00 p.m. CEST on 22 September 2023, unless it is extended or terminated at NOBA’s sole discretion. NOBA will announce the result of the Tender Offer as soon as reasonably practicable after the expiry of the Tender Offer period. Settlement of the Tender Offer is expected to occur on or around 28 September 2023.
For further information, please contact:
Arash Bigloo, Head of Treasury, NOBA
arash.bigloo@nordax.se
+46 738 66 06 62
About NOBA Holding
With a diversified offering through three brands, Nordax Bank, Bank Norwegian and Svensk Hypotekspension and 2 million consumers, we have the size, skill, and scale to enable healthier finances for more. NOBA collects specialized, customer centric financial offerings that is sustainable for the individual, the bank and the society at large, today and tomorrow. NOBA Holding AB (publ) ("NOBA") is owned by Nordic Capital Fund IX, Nordic Capital Fund VIII and Sampo. Today the NOBA group has approximately 650 employees and is active in 7 markets.
As of 30 June 2023, lending to the public amounted to SEK 102.1 billion and deposits to SEK 87.2 billion.
Read more about NOBA and our brands at www.noba.bank.
This information was submitted for publication through the contact person set out above at 10:25 a.m. CEST on 18 September 2023.